Indianapolis Times, Indianapolis, Marion County, 10 September 1949 — Page 26
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Purchasers Urged "To Check Carefully”
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PAGE 26
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Before They Buy
If You Want a Home, Lending Firms 5 Will Examine House, Credit Rating |
If you want to buy a home, what should you expect, and what should you know? Most homes are financed by mortgages, Companies are looking for. loans, especially in tne $6000 to $10,000 price range. Local lending firms like local loans. But there are a few things lending companies examine before they let you put your name on ~~ y pes rere | the dotted line. without looking into the size and Exterior design is - important. location of every. closet. r
an
It determines marketability, An! Now, if you are satisfied that ugly house is a poor risk, It can the house will suit your needs, —— wee rorera— : be fhe home mobody wants. No how do you pay for it? Most There Is Mi Such Thin lending company wants “to get houses are mortgaged, with pay-| Le stuck with it. ments . stretched over 10 to 20 : — As a Fully Dry B t o.Ampuitant Resign ne | Financing companies will make S a "u Y ry asemen “n " | . . . ment and opportunity for turnin ers ont ont Freie wal Close Inspection Will Show Air Is Damp BOTANY Checkpoint. A Meanie up| iPrralsal, and the appraisal on Or Moisture on Pipes in All Cellars floor plan is a’ poor risk, and new BE ae oy on] ood Is there such a thing as an absolutely dry basément? ofteri a smaller house has a bet-'. iit risks over long periods The answer is no. Some basements seem dry, ‘but close inspecter layout for good furniture dis- 4. oider homes the loan is likely tion will show that the air is damp and there probably will be a few play than a larger house. \'to he 15 to 20 per cent-under the drops of moisture forming on cold pipes or on walls. Appraisers look at materials to , 01541, which will be 70 to 75 The reason is that damp or wet air is heavier than dry air and see whether they are cheap or... cent. settles to the bottom of the house. In the cool areas of even the shoddy. They look for excessive Check Credit Ratings best ventilated basement sane cracks, quite common in base plaster cracking due to the house moisture will form. : a AONT should ‘not be sinking. They check to make Mortgage companies take a pit this is not serious; as mod- men Ins o y, BO — sure fldors are level. They look geod look at the credit ratings .. building materials are fabri- painted wi h A acem ae at ceilings for discoloration. Latn of home buyers, their paying ...4 tn accommodate a moisture paint) ‘until about a year after : ne basement is completed. outlined on ceiling often means habits and charge account expe- _....+ in the air-controlled with the ba eon ed it poor insulation and that heat-is rience: ict ynraetreuiation: gs _Bo do not be disappointe escaping. ’ The rule of thumb on lending . Vvour— hasement-— seems wet-——or is that a man may take on a Concrete Is Moist damp at tifnes. They all are. Walls Are Checked home debt for 2'; times his an-, Walls and floors are made of ——— . Walls are checked thoroughly. nual take-home income. This 1s concrete as a rule. New concrete - Loan company appraisers have forthe $6000 to $8000 price class. contains a high percentage of Bene it 00 rough knuckles from tapping! = As his income goes up to $10.- moisture, and it may require walls. They are looking for plas- 000, he can borrow 2' times his months for it to dry thoroughly. ter or good dry wall construc- annual take-home income. Above Road ‘engineers tell that rR tion. $10.000 take home income he can story about highways. Even ex- aC mpo di Basements may be a little porrow $10,000. posed to the sun and wind it ” damp, but they should not leak.! The ratio goes down on higher takes some -highways a year to Should Be Part
The rough appraisers: trip all incomes because in these ranges, qry ‘thoroughly. i toilets and try water faucets. the living necessity band becomes, For a period of months a con-| They test fireplaces, too, fOr proader and includes many thingsicrete floor in a basement may be! Of Complete Home smoking. which are luxuries to the lower shedding moisture. The floor, A work bench with a tool rack
Particularly in older houses, income group. usually four inches thick, is laid|should be a part of every comsagging roofs are a sign of The monthly mortgage payment ,. a bed of cinders or other por-iplete home. weakened supporting timbers, al-ishould not be more than 20 per ug materials.” And if the area Paints, cleaning fluids and though many of the defects can cent of the take-home: pay, eX-/yatertable is above, .or just be- other inflammable materials Le remedied easily and inexpen- cjusive of light, water, gas and), the surface there will be a should be kept outside the house sively. . other utility bills. The FHA per- gq w of moisture vapor through if possible and oily rags should Look for Termites mits 25 per cent but it includes iy. igor. not be left about, Appraisers look for termites in utilities. | This explains why in extra wet A strong kitchen table can be older basements. Now you can answer the ques-'y...iher beads of water form on used for a work bench if the legs Older houses may need paint. tion as to whether you can af-\,... ment floors and walls. The are strong enough. A ‘better And they surely need a thorough ford a home, how. you can tell if| ‘ira load of wetness cannot be bench is made from heavy timber title check and survey. Often it Is a good hoine, and how you ,p.. hed so it is carried on the with the legs reinforced by cross neighbors have shared a drive on will be expected to pay for it, |surface. [pieces so it will stand planing and the lot line, or an owner has his| eta esemeseeys | None of these conditions is seri- other woodworking operations. eaves hanging over his neighbor's Modern Home Buyers lous. They are quite normal. | An inexpensive but practical line. Under friendly arrangements , . | Ventilation Best Cure [tool rack can be made by fastenthis causes no trouble, 2 waen Are Window-Conscious | Ventilation is the best antidote, |ing a half-inch board about four A new owner comes into one © ‘Continued “perfection” of mod- especially in new basements. inches wide edgewise to seven
the houses, there can be pienty i ; of trouble and even court es Yiern wiridows are making home- [Basement windows should be foot plank from two or three
owners and rospective home opened to allow cross ventilation feet long. an PLACE AAR ne ot builders more DIC in reasonable weather. This willl Drill the horizontal piece with is important, too. Most home! Insulation by weather-stripping, prevent condensation in hot holes large enough to accommoowners like vegetable gardensor # floating sash operation, life- humid summer weather if there date wrenches, drills and other flower beds.’ {time springs and a combination is not too much variation be- small tools. Then erect the rack built-in screen or storm sash into tween the basement and outside over the work bench In good Plenty of Light {the frame are the newest features. temperature. i light. : There should be plenty of nat-| Windows in various places, such, Water seepage from heavy) ural light which means ample as bay windows, corner windows, structural cracks In hasement MIRROR ADDS COLOR windows in the right’ places to/casements, window groups and walls and floors is a different
mn - THE INDIANAPOLIS, FIMES Keynote: Compact and Efficient Homes
a Sturdy, compact, efficient, 6900 Edgewood Drive.
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An over-the-mantel mirror of
catch the sunlight, And no wom- picture wifidows, also add beauty matter. This should be corrected! polished glass adds to the color
an ever goes through a house'to the home. immediately.
But the hairline and optical size of the room,
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Exposition Permits Thousands fo See Achievements of Builders, Feeney Says
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Mayor Al Feeney gave the official green lignt to the Parade of {Homes when he signed a proclamation, It sald: . “The members of the Marion County Residential | to be congratulated on joining with the National Association of Home Builders in the nationwide observance of National Home| heir own Marion County ‘Parade of Homés' Sept. |
Week with t 11 to 17.
“IndTanapolis is
icity of beautiful homes,
statistics show that 51.8 per cent| of the residents of Indianapolis; own their own homes. Since the builders organizations have ac‘end of the war, home building complished in good, substantial has increased, and many more housing. ’ | families are hoping to. realize
of their own.
and Paint Cor. NOW AT 127 EAST WASHIN
GTON ST.
known as a
availahlé for public . inspection Homes.
1001 USES!
Painting Auto Touch-Up Insecticide Spraying Deodorizing Moth-Proofing
| during the week, so thousands of| and People will have an opportunity to see what members of the| Marion County and Indianapolis
"Builders are
|
; “Therefore ‘I am proud to protheir ambition to live in & home cjaim the week of Sept. 11 to 17|
las National Home Week in In-, “I'm pleased to learn that the dianapolis, celebrated best of our new homes will be the Marion County
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©1939 SHERWOOD VILLAGE . . | College Ave. at Tist Street
1945 CANTERBURY . . .
1200 East Kessler Blvd.
1949 WINDCOMBE . .
7800 College Avenue |
Parallel to and Adjoining Williams Creek
Three of Indianapolis’ most desirable residential sec“tions, all adding stature to the City's fine reputation as a city
of beautiful homes . . .
A home in such a neighborhood as these assures the
finest in setting and practical facilities.
We have developed these additions and built many of the lovely homes to be seen in them and therefore feel a.
justifiable pride in our contribution to the growth of a great city.
There are, in each of these Additions, homes in all stages
of construction. We extend a cordial invitation to visit these
subdivisions during the Parade of Homes.
ATKINSON and COMPANY
REALTORS
BUILDERS 'SUBDIVIDERS
|
Illinois Building - Riley 1314
lacquers, -- shellacs, enamels, varnishes, any freeflowing materials — even by the most inexperienced honds!
Nickel Plated Gun
Universal Mofer... fan cooled. ,
Waxing Furniture, Floors Animal Spraying Pest Control
Preserving Machinery Wall Paper Removal
locally as ‘Parade of
nine — SATURDAY, SEPT. 10, 1049. "Parade of Homes' Praised | In Mayor's Proclamation
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., as advertised In
THE SATURDAY EVENING POST September 17
Telephone:
Hi ghland 5533
WILSON-PARTENHEIMER
COMPANY
1737 North Meridien Street
Indianapolis ?
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